Tesla to offer Roadster financing thru Bank of America
DETROIT, July 14 (Reuters) - Electric car start-up Tesla Motors Inc said on Tuesday that Bank of America (BAC.N) would provide financing for customers purchasing its flagship Roadster sports car.
Through Bank of America, customers can finance up to 75 percent of the total purchase price of Roadster, the base price of which totals $109,000.
Tesla, one of the biggest players in the burgeoning electric car sector, has delivered more than 500 Roadsters and has about 1,000 people on the car's waiting list.
A customer approved for a 5-year financing term on a base Roadster could put down as little as $20,000 and have a monthly payment of about $1,700 at a 5 percent annual interest rate, Tesla said.
Tesla's announcement comes as carmakers around the globe rush to roll out affordable all-electric vehicles in response to stepped-up consumer concerns about volatile gasoline prices and vehicles' emissions of climate warming greenhouse gases.
San Carlos, California-based Tesla also unveiled in March its newest product, the $49,900 Model S four-door family sedan, which it said was the first highway-ready electric vehicle within the price range of most car buyers.
(Reporting by Soyoung Kim, editing by Matt Daily)
